Lloyds Bank is rolling out a social housing "pilot scheme" next month.
The banking giant confirmed that it will start converting its disused office sites into social housing from next month.
The bank is launching the programme with a decommissioned data and office space in West Yorkshire.
Lloyds will sell the site to a local housing group with the agreement that 80 new homes will then be rented at about half the usual rate.
Sorry sorry sorry .. broken record time … you will own nothing. ..
— Bill (@B_SandhuLondon) July 17, 2024
Lloyds Bank moves into social housing .. (Times16.07.25) pic.twitter.com/ul7bYxYjzu
Charlie Nunn, Chief Executive Officer, Lloyds Banking Group, told The Guardian: “Everyone has the right to build a future from the foundation of a secure home.
"Social housing is part of this country’s critical infrastructure, and we need to direct and increase investment into the right homes, in the places they’re needed most.
"Lloyds Banking Group has provided £17 billion of support to the sector since 2018 and today we also have announced our plans to redevelop decommissioned Group data centres and former office sites for new housing projects - and I would encourage others to also consider this.
“We’re also making a major financing commitment to housing providers, and through Citra Living we will own good-quality homes to be made available for those most in need.
Recommended reading:
Lloyds beats forecasts with 46% leap in profits after interest rates boost
DWP issues Universal Credit warning for 184,000 Brits
DWP Pension Credit warning as thousands miss out on £3,900
"In partnership across the private, public and third sectors, we can create more good-quality, genuinely-affordable homes.
“Labour’s commitment to it is clearer than the last government,” Nunn told the Guardian.
“We obviously didn’t see, in the last period of time, some of the changes that would be needed to really unlock the level of the ambition that we think is needed for the UK to prosper going forward.”
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereLast Updated:
Report this comment Cancel